Desty, a Jakarta-based social commerce enabler, has secured $5 million in an extended pre-Series A round led by East Ventures with participation from Jungle Ventures, the company said in a statement on Friday.
Existing investors such as Fosun RZ and January Capital re-upped in this round in a bid to strengthen the company’s balance sheet and accelerate its product development and merchant acquisition. Desty also plans to launch new products in the coming months.
DealStreetAsia was the first to report, in July, that Desty had closed a pre-Series A round, raising over $3 million led by 5Y Capital in what was understood to be the Chinese venture capital firm’s first investment in Indonesia. Desty later confirmed that it raised $3.2 million in the round following an undisclosed seed funding in December last year.
Around half of Desty’s users are online merchants, including DAMN I Love Indonesia, Luna Habit & Nama Beauty by Luna Maya, Kurumi, Janji Jiwa, Haus. Another 30% are creators or influencers such as the Indonesian Olympics gold medalist Greysia Polii.
Other social commerce startups are also in the market to raise funding, including Chilibeli, which is reportedly in talks to raise around $20 million. Evermos secured $30 million in a Series B funding in September this year.
AV startup MooVita scores fresh funding
MooVita, a Singapore-based autonomous vehicle startup, announced raising Series A funding from tech-focused investor 1Derlife Growth and SEEDS Capital, the investment arm of Enterprise Singapore.
The startup, which was established in 2016 with headquarters in Singapore and offices in Malaysia and India, claims to have pioneered the development of driverless software solutions that can be deployed in cities worldwide.
MooVita plans to use the corpus to expand its operations and take its products to Europe while strengthening its footprint in the Asia-Pacific region.
MooVita’s driverless software seeks to transform various vehicle types into autonomous vehicles for different driving conditions and applications, such as first or last-mile transportation, logistics transportation, agriculture, and utility.
The startup operates in the electric and autonomous vehicle market, which is expected to grow at a CAGR of 22% to hit $60 billion 2028, according to 1Derlife Growth principal Gregory Lee.
MooVita’s early investors include Pioneer Smart Sensing Innovations Corporation (a consolidated subsidiary of Pioneer Corporation), SEEDS Capital, and GreenMeadows Accelerator.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has put together a table listing out prominent venture capital transactions in Southeast Asia for the week starting November 22, 2021.
|Startup||Headquarters||Investment Size||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry / Verticals|
|Pace||Singapore||$40,000,000||Series A||Marubeni Ventures, Atinum Partners, AppWorks, Alpha JWC, UOB Venture Management, Vertex Ventures Southeast Asia, Genesis Alternative Ventures||Fintech|
|Sun Energy||Singapore||$25,000,000||Series A||TBS Energy||Delta Dunia Makmur||Energy|
|Gimo||Vietnam||$1,900,000||Seed||Integra Partners||Resolution Ventures, Blauwpark Partners, and TNB Aura VN Scout||Fintech|
|MooVita||Singapore||Series A||1Derlife Growth, SEEDS Capital||Transport|
|RWDC||Singapore||Undisclosed||Series B||Vickers Venture Partners, Temasek||CPV/CAP Pensionskasse Coop, Optimas Global Healthcare Fund||Biotech|
|Pintek||Indonesia||$7,000,000||Series A||Kaizenvest, Heritas Capital, Blue7, Earlsfield Capital, Finch Capital, Global Founder Capital, Action Venture Lab, Strive, Fox Ventures||Fintech|
|Jago Coffee||Indonesia||$250,000||Pre-seed||BeeNext, Prasetia Dwidharma, Hidenori Izaki||F&B|
|Hepmil media||Singapore||$10,000,000||Series A||Quest Ventures, Pavilion Capital, Bent Pixels||Media|
|Desty||Indonesia||$5,000,000||pre-Series A||East Ventures||Jungle Ventures, Fosun RZ, January Capital||E-commerce|